Blackstone frontrunner in Signature Bank commercial-property loan sale- Bloomberg News (updated)

Signature Bank

19/11/2023 16:32

(Adds details and background in paragraphs 2-6)
       Nov 19 (Reuters) - Blackstone  BX.N  is the lead to win
the $17 billion portfolio of commercial-property loans from the
U.S. Federal Deposit Insurance Corp's sale of Signature Bank
debt, Bloomberg News reported on Sunday.
     In September, the FDIC was seeking buyers for the $33
billion commercial real estate loan portfolio of failed New York
lender Signature Bank.
    The bidding process has brought in several finance companies
such as Starwood Capital Group and Brookfield Asset Management
Ltd  BAM.TO , according to the Bloomberg report.
    The FDIC hired Newmark Group  NMRK.O  in March to sell about
$60 billion of Signature Bank's loans, after state regulators
decided to close the failed lender amid turmoil in regional
banks earlier this year. 
    Blackstone, the FDIC and Newmark Group did not immediately
respond to requests for comment. 

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Buyers sought for Signature Bank's $33 bln CRE portfolio   
 urn:newsml:reuters.com:*:nL1N3AH239
FDIC hires Newmark Group to sell billions of Signature Bank debt
- source      urn:newsml:reuters.com:*:nL4N3612UR
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 (Reporting by Chandni Shah in Bengaluru; Editing by Lisa
Shumaker)
 ((Chandni.shah@thomsonreuters.com;))